Skill-Based Pay Plans Pose Some Risks to the Organization,such As

question 59

Multiple Choice

Skill-based pay plans pose some risks to the organization,such as:

• A) increasing employees' frustration when they hit the top of the pay structure.
• B) being more subjective and arbitrary than job-based pay plans.
• C) leading to bias against women and minorities.
• D) not considering the nature of the business.

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Definitions:

Equilibrium Price

The price at which the quantity of a good demanded by consumers matches the quantity supplied by producers, resulting in market stability.

Price Ceiling

A legal maximum price set by a government on certain goods and services, above which they cannot be sold.

Supply and Demand

A fundamental economic model that describes how prices and quantities of goods and services are determined in a market.

Price Ceiling

A maximum legal price that can be charged for a product or service, above which it cannot rise.